New Unemployment Claims Hit Nine-Month Low

Washington, DC, Dec. 8, 2011 -- Initial claims for unemployment benefits dropped to a nine-month low last week, suggesting the labor market continues to improve.

Initial claims for unemployment benefits fell 23,000 to a seasonally adjusted 381,000, the Labor Department said, the lowest since late February.

That was below economists' expectations for a fall to 395,000.

The report, coming on the heels of data last week showing a rise in hiring and a sharp drop in the unemployment rate to 8.6%t in November, pointed to some healing in the job market.

The four-week moving average of claims, considered a better measure of labor market trends, fell 3,000 to 393,250, the lowest since early April.